SmarTrend Market Close Wrap-up — March 22, 2011
The major US equity indices closed fractionally lower Tuesday, ending a three day rally as investors remained cautious about events in Libya and Japan. The Federal Reserve profited $81.7 billion in 2010, a record high, up from $53.4 billion in 2009. The bank returned $79 billion to the US Treasury, a 68% increase over 2009. The bank uses some of its profits to cover expenses before returning the rest to the federal government, as the Federal Reserve is entirely self-funded.